Global financial markets surged following the U.S. Federal Reserve's unexpected half-point interest rate cut, with Wall Street's S&P 500 and Dow Jones Industrial Average reaching new all-time highs. The S&P 500 rose by 1.6%, while the Nasdaq composite surged 2.3%, reflecting investor optimism about economic stimulation amid a cooling labor market. European markets also benefitted, with the DAX and FTSE 100 posting gains, while Asian markets followed suit with Japan's Nikkei 225 climbing 2.1%. The Fed's move marks its first rate cut since the onset of the COVID-19 pandemic, aimed at supporting the economy and combating inflation. Market analysts predict further cuts may occur before the end of the year, enhancing the positive sentiment among investors. Commodities and cryptocurrencies also experienced increases, indicating a broad-based risk-on market environment.